Pricing a car correctly is intricately linked with stock turn and profitability – we asked dealers how they hit the sweet spot
Auto Trader has announced pre-tax profits of £211 million from £330m revenues during the year to March 31.
The Shpock online marketplace has launched its new platform for car dealers with TV advertising campaign and the promise of access to over 700,000 monthly UK users.
Auto Trader sees used diesel car prices rise by 3% Used diesel car prices rose by 3% as the average price of a used car rose 6% industry-wide, according to Auto Trader’s Retail Price Index. Despite a fall in the share of searches by fuel-type targeting a diesel vehicle, 71% In November 2016, to an annual low of 53% in January, diesel car sales via the online marketplace generated an average value of £14,405 in last month, compared to the £12,775 realised by the average used car sale. The Auto Trader Retail Price Index analyses data from over 500,000 trade used car listings every day, as well as additional dealer forecourt and website data to deliver its monthly statistics. It said that the £777 increase in the value of a diesel car sold via its platform represented “a promising start for used diesel prices” However, petrol saw a more impressive leap in used prices in January, recording an average price of £10,713, which is a £1,733 jump on January 2017 – representing a 10% increase on a like-for-like basis. Online searches for petrol cars, meanwhile, have steadily risen and accounted for 43% in January 2018, compared to just 26% in November 2016. In January 2018 4% of all fuel-related searches were attributed to alternatively fuelled vehicles, which was no movement from December and a 1% increase year-on-on. Comparing the total volume of AFV searches across the year, the number of searches for AFVs on Auto Trader increased 65% between 2016 and 2017, with electric alone recording a huge jump of 84% in searches. Karolina Edwards-Smajda, Auto Trader’s retailer and consumer product director, said: “With new diesel registrations continuing to tumble, it’s very reassuring to see used diesel prices not only retaining their value, but actually increasing in January. “It’s clear, however, just how harmful the government’s strong anti-diesel stance has been on the automotive industry. “We can see that the misstep in not clarifying the difference between new Euro6 and older vehicles has seriously dampened consumer buying confidence, reflected in both the ongoing fall in new diesel registrations, as well as the searches on our market place.”
Gumtree and eBay will operate as one business after merging to offer car retailers exposure across two platforms when listing vehicles for sale.
Moto Novo finance has launched its findandfundmycar.com classified advertising service built on a set of co-operative principals which aim to cut costs for car dealers.
Classified adverts and used vehicle locators can now be uploaded in “under two hours” thanks to a new app launched by CitNOW.
Dealers tell AM’s poll which of their marketing channels work and, more importantly, which offer the best return on investment.
Classifieds business Gumtree Motors is relaunching its website and introducing new packages designed to help franchised dealers stand out in its listings.
A YouGov poll has highlighted a generation gap amongst car buyers with 44% of respondents aged 55 and over not visiting classified websites when buying a car.
RAC Cars’ pledge to shake up the classified motor marketing sector by providing free advertising to dealers looks set to be cut short by a tie-up with Motors.
Exchange and Mart has appointed Jim Murray-Jones as general manager. At News UK automotive, he led the transformation of the Sun Motors and Driving websites.
AA Cars is rolling out CitNOW’s video technology to its online used car customers.
Online classified firms are coming up with more creative ways to attract car buyers and dealers
Car search network Motors.co.uk has extended its network again with partnerships with the FirstCar and Car Magazine websites.
Auto Trader has announced a partnership with Trusted Dealers, the marketing channel operating under the umbrella of the National Franchised Dealers Association.
